“I think there are a few hundred guys,” says Kyle Samani, managing partner at Multicoin Capital. “They all probably can call each other, and they probably havehow to make a business phone call – How Whales Manipulate Cryptocurrency Market,” says Kyle Samani, Managing Partner of Multicoin Capital. One reason to think so: at least some types of information exchange are legal, says Gary Ross, a securities lawyer at Ross & Shulga. Since bitcoin is a digital currency, not a stock, he says that there is no ban on trade, in which the group agrees to buy enough to push the price, and then sell in a few minutes.
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